No idea if it is accurate or if anything has changed since then, but it indicated the following:PROGRAM 1 Owner use up to 2 weeks 50% of Adjusted Gross Standard FF&E in high season & 2 weeks Revenues from the Unit and accessory in low season package required.

In STR common markets like Gatlinburg this naturally adjusts itself as most homes are STRs so the entire market lifts to meet their cap rates, and they appraise on those cap rates in spirit, even if not technically. 

My current rate is on an adjustable at 9.5% ...Ouch.

The lender may want a certified letter from the accountant to verify this fact.Best of luck!

Collateral is valued using certified appraisers as opposed to "drive by" AVM values that the PPR fund relies on.I could go on. 

Adjust your strategy and/or your team as you go along.hope that helps..

However, I’m wondering if I need to engage an Attorney a borrower has missed a payment and it’s time to send a Notice of Default.Must the Notice of Default (NoD) be a letter sent certified mail or would an email sent to the borrower notifying them of non-payment be considered sufficient as a Notice of Default.

and run a few scenario's then adjust accordingly.

Moreover, if you sell or the tenants want to move and their rents are well below market - they might be in for a shock/lifestyle adjustment/unable to afford current market rents.

You will want to reach out to a certified 1031 intermediary company.